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Dec 11, 2012
12/12
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CNBC
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china's m.o. is this. they basically buy american companies, strip them of technology and ship the jobs to china. case in point would be brantley helicopter. used to be in texas. 2009 china buys it. now all the production facilities are in jindao. this is the problem. the promise to keep the plant going. now a-123 is interesting. they have cutting edge technology which will be exported to china. that's the bigger issue. one company at a time, larry, is going over to china, helping to build their industrial base. and the other thing -- >> hang on a second. this is an important point. ann lee, i'd like to get something from this. okay? if the u.s. foreign investment advisory board okays the deal, fine. but they counterfeit our goods. the chinese have a lot to answer for. shouldn't we make a deal? we let them buy the company but we should make a deal and they should somehow stop all the pirating of our technology? >> i think the chinese government is already trying to crack down on counterfeiting and other th
china's m.o. is this. they basically buy american companies, strip them of technology and ship the jobs to china. case in point would be brantley helicopter. used to be in texas. 2009 china buys it. now all the production facilities are in jindao. this is the problem. the promise to keep the plant going. now a-123 is interesting. they have cutting edge technology which will be exported to china. that's the bigger issue. one company at a time, larry, is going over to china, helping to build...
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Dec 11, 2012
12/12
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$16 trillion of debt, nearly 11, about 5 trillion to the foreign government, most of it to japan and china were funds with in those countries. it's something like $3 trillion the government does in the national security trust fund and those have to be paid back in the general revenues. much of this deficit and debt was accumulated during the period of prosperity. relief from the 60's. we've only had to balance the budget since 1969. bill clinton had won in 1990 and lyndon johnson had one in 1969. i believe johnson was able to achieve ten because of the basic fiscal year. [laughter] typical of johnson in the fiscal year to october 1st or september 30 of which then enabled him to balance the budget, so clinton who did it legitimately i think. but in other words, the idea is we would run up the deficit when you have islam, large deficits when you have a slump, it would run at medium-size deficits in the times of prosperity. the u.s. government spending $3.6 trillion this year one-third of it is borrowed. since 2001 federal spending has gone up roughly twice the rate of economic growth. intere
$16 trillion of debt, nearly 11, about 5 trillion to the foreign government, most of it to japan and china were funds with in those countries. it's something like $3 trillion the government does in the national security trust fund and those have to be paid back in the general revenues. much of this deficit and debt was accumulated during the period of prosperity. relief from the 60's. we've only had to balance the budget since 1969. bill clinton had won in 1990 and lyndon johnson had one in...
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Dec 11, 2012
12/12
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CNBC
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retail stocks that have exposure in china such as tiffany. >> i'm not a big fan of tiffany. that stock has been a very, very difficult stock. i do think that you want to look at pvh because of the warm weather in america, but after they bought calvin klein, that's the one i think you ought to look at. let it come in, warm weather is going to cause everybody to have jitters. i wish we could forget about politics. i'd love to discuss decker's or coach. until we get a deal, it's bad news for the market. even for cheap stock like apple. "mad money" will be right back. >>> high on biotech. medical innovations continue to help us. tonight, two companies with breakthrough products that are leading the charge. cramer is talking to the ceos of immunogen and seattle genetics, just ahead. and later, reenergized. pipelines, they're america's energy toll road and can provide investors with a secure source of dividends, but his investment in north dakota's oil rich bakken shale continues, cramer's looking for companies that are ready to expand. don't miss the ceo of enbridge energy. all c
retail stocks that have exposure in china such as tiffany. >> i'm not a big fan of tiffany. that stock has been a very, very difficult stock. i do think that you want to look at pvh because of the warm weather in america, but after they bought calvin klein, that's the one i think you ought to look at. let it come in, warm weather is going to cause everybody to have jitters. i wish we could forget about politics. i'd love to discuss decker's or coach. until we get a deal, it's bad news for...
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Dec 11, 2012
12/12
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greed to take jobs and cheap labor markets so they can get right to work law states in indonesia and china and then made right to work law here. it means it's a gap between the wealth and the workers. workers have a right to expect liberal wages, health care, education care, the right to vote protected, and educate their children. these rights are reasonable and should be enforced. >> reverend jackson, you and i have known each other a long time. did you ever think you would be in michigan leading a protest against right to work? >> i really did not. i think that the tea party has 150-year-old roots between what is -- the right it organize, collective bargaining and states rights. i never thought it would go this far north, and, yet, these workers in this state must fight back and draw a line in the sand. that's why i'm going to address a major one-day strike, maybe a one-day march on washington for massive and action to bring about the ship in the flow of the wind. >> reverend jesse jackson, bob king from the united autoworkers. thank you very much. i know it's a cold day. thanks for join
greed to take jobs and cheap labor markets so they can get right to work law states in indonesia and china and then made right to work law here. it means it's a gap between the wealth and the workers. workers have a right to expect liberal wages, health care, education care, the right to vote protected, and educate their children. these rights are reasonable and should be enforced. >> reverend jackson, you and i have known each other a long time. did you ever think you would be in...
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Dec 11, 2012
12/12
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FBC
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and china may be the number one economy soon. really? "varney & company" about to begin. >> right off the top, breaking news for you now. fox business learned that a group claimed to be aligned with terrorism is threatening to launch a massive attack against u.s. bank websites and made that threat in the fall and this is a new threat set to start this week, we hear. and a list of banks targeted includes j.p. morgan chase, bank of america, u.s. bancorp, pnc financial services and suntrust banks. more details when we've got them. the power and might of unions on display today and being tested. you will see huge protests at the state capital building in michigan where right to work legislation will be signed today. that means workers will be able to choose if they want to join the union. they will no longer be compelled to pay dues. here is the president speaking at a daimler factory in michigan yesterday. >> we do everything we can to encourage companies like daimler to keep investing in american workers. and by the way, what we shouldn't
and china may be the number one economy soon. really? "varney & company" about to begin. >> right off the top, breaking news for you now. fox business learned that a group claimed to be aligned with terrorism is threatening to launch a massive attack against u.s. bank websites and made that threat in the fall and this is a new threat set to start this week, we hear. and a list of banks targeted includes j.p. morgan chase, bank of america, u.s. bancorp, pnc financial services...
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Dec 11, 2012
12/12
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CNNW
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china will be a big driver and india will be growing like china is today. they talk about how the world is changing. it's like no other time since the french revolution. remember in the late 18th century, the industrial revolution, except it's happening more quickly. it's taking a tenth of the time for china and asia to rise quickly. let me read to you something from the report, in the tectonic shift, asia will have surpassed north maeshg and europe combined in terms of global power, based upon gdp, population size, military spending and technological spending. china alone will probably have the largest economy, surpassing that of the united states a few years before 2030. people because of technology, people really have more power than they've ever had before, individuals have more power an that can also cause problems with, you know, people using technology for ill means. >> is this the whole report? >> the 140-page rundown. i'm sure the president gets a bigger one. >> this is an intelligence report. >> yes. >> why on earth would anyone buy a jillion doll
china will be a big driver and india will be growing like china is today. they talk about how the world is changing. it's like no other time since the french revolution. remember in the late 18th century, the industrial revolution, except it's happening more quickly. it's taking a tenth of the time for china and asia to rise quickly. let me read to you something from the report, in the tectonic shift, asia will have surpassed north maeshg and europe combined in terms of global power, based upon...
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Dec 11, 2012
12/12
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. >>> new world order, the economy growing at an enormous rate in china, and in a few years it will surpass the u.s. what it means, coming up. >>> dozens of homes damaged in the south, ripping off roofs and damaging trees. more to come. stamp watch, straight ahead. >>> lots to talk about this morning. the next two hours, we'll talk with steve israel. jeff sessions, sandy levin, rahm emanuel and businessman javier paolomarez, ed burns, frankie monday easy, and chuck leavell. "starting point" begins right now. welcome, everybody. "starting point" this morning, angry, united. bracing for protests in michigan as the state is poised to become the most unionized right to work state. as many as 10,000 unionized workers expected at the state capitol to voice their disapproval of the measure. some of them teachers, two detroit area school districts shut down for the day as hundreds of teachers plan to join the protest. president obama brought it up during a trip to a daimler truck factory in redford, michigan. this is what he said. >> this so-called right to work law, they don't have to do with econ
. >>> new world order, the economy growing at an enormous rate in china, and in a few years it will surpass the u.s. what it means, coming up. >>> dozens of homes damaged in the south, ripping off roofs and damaging trees. more to come. stamp watch, straight ahead. >>> lots to talk about this morning. the next two hours, we'll talk with steve israel. jeff sessions, sandy levin, rahm emanuel and businessman javier paolomarez, ed burns, frankie monday easy, and chuck...
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Dec 11, 2012
12/12
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FOXNEWSW
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china buying up u.s. companies on the cheap and we are paying interest on money we are borrowing from the communist company in the first place. a battery system is closed unless regalators stepped in. is it 123. >> it is a-123. >> gretchen: it went bankrupt. >> the judge holds an auction and a chinese company wins the auction and $256 million for a 123. china has the money. that's the bottom line. we have spent all of ours and china is buying up american assets like the battery company. the problem is, taxpayers have subicized a 123 and pumped in a grant and gave it to this outfit that is now bankrupt and china is picking up the pieces dirt cheap. the ball is in president obama's court. there is a committee that decides whether or not a foreign company can buy an american company. on what grounds do they wish to buy. is it in our national interest to sell to a chinese company. time geithner heads that committee and he will decide are we going to sell this dirt cheap to china or not. >> gretchen: oh, by th
china buying up u.s. companies on the cheap and we are paying interest on money we are borrowing from the communist company in the first place. a battery system is closed unless regalators stepped in. is it 123. >> it is a-123. >> gretchen: it went bankrupt. >> the judge holds an auction and a chinese company wins the auction and $256 million for a 123. china has the money. that's the bottom line. we have spent all of ours and china is buying up american assets like the...
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Dec 11, 2012
12/12
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i think one of the interesting -- i think there's always china, europe, and the congress who can mess this up, but i think it's going to be pretty hard to stop this recovery. we have done everything we can to do it. we can probably do it again if we try hard. i think we won't succeed this time. >> we talked that brings up a good point. we haven't talked about job creation yet and the polling shows that's a big concern for americans. particularly for the long-term unemployed who have been left behind a little bit in the economic recovery, do you feel like the president and congress is doing enough to address that problem? and what politically and realistically could be done in the next four years? yeah. >>, i mean, i think the president is committed to this, i think that he would like to see i think see unemployment insurance -- and he would like to see, if possible, the extension of the payroll tax cuts. we have at the center for progress we released a deficit and revenue plan that calls for $400 billion in short term. we think there's a need for investing in infrastructure and roads
i think one of the interesting -- i think there's always china, europe, and the congress who can mess this up, but i think it's going to be pretty hard to stop this recovery. we have done everything we can to do it. we can probably do it again if we try hard. i think we won't succeed this time. >> we talked that brings up a good point. we haven't talked about job creation yet and the polling shows that's a big concern for americans. particularly for the long-term unemployed who have been...
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Dec 11, 2012
12/12
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want them in lexington, kentucky or china? >> you mentioned germany. volkswagen opened a plant in chattanooga a few months ago, 2,000 new jobs. bob corcoran was down there. 2,000 jobs, every one of which started at $14.50 an hour. >> right. they're not all going to be at -- >> so volkswagen was moving these jobs here because we're the low wage country compared to germany. >> dude, are you suggesting we push these jobs away? >> i'm not. >> i would rather americans have a shot at a $17 an hour job than having it in china. >> i agree. >> find a way to do better. i actually agree with you. but you have to understand the consequences are pretty severe for american lifestyles. >> again, though, i'm sorry, mike, but the consequences are, we have two choices, we can't get 1965 wages, we either have these jobs in china or lexington, either have them in alabama or germany and this is at least for some of -- a chance for younger americans to get some good jobs. >> joe, if you're taking a job that pays $14.50 an hour. it means one of two things, a, you don't have
want them in lexington, kentucky or china? >> you mentioned germany. volkswagen opened a plant in chattanooga a few months ago, 2,000 new jobs. bob corcoran was down there. 2,000 jobs, every one of which started at $14.50 an hour. >> right. they're not all going to be at -- >> so volkswagen was moving these jobs here because we're the low wage country compared to germany. >> dude, are you suggesting we push these jobs away? >> i'm not. >> i would rather...